I can't answer why he took the action he did. I will say that he did not "steal it". If the lending agreement was in default the vehicle is subject to being repossessed and it is the legal right of the lien holder to do so. A lending agreement is considered defaulted if even one of the terms is not adhered to; meaning even when a payment is late the lender/lien holder can take whatever action necessary to secure their interest in the collateral/property.
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Related Questions
What happened if you were behind on payments and the lender offered to refinance and lower the payments and said you were approved and then repossessed the car?
Generally you would have to sign paper work if the bank had approved a refinance agreement . In that case you could take legal action . They could however reposses the vehical if you fell behind again on your payments after sighing the agreement. Guess what......... banks and lenders LIE !!!!! If it is not in writing then there is no agreement so you don't have any recourse. Unfortunately you learned the hard way.
If you are 3 months behind but making payments on your vehicle can they still repo your car in Illinois?
How many payments can you be behind before your car go into repossession?
As little as 1. Depends on the lender and the agreement you signed. Read the loan agreement. My advice. Call the lender and talk about this. Work something out! You do not want your car repossed.
Can your mortgage company harass you?
It depends on what you consider harassment. They can demand that you pay your mortgage if you are behind in your payments.It depends on what you consider harassment. They can demand that you pay your mortgage if you are behind in your payments.It depends on what you consider harassment. They can demand that you pay your mortgage if you are behind in your payments.It depends on what you consider harassment. They can demand that you pay your mortgage if you are behind in your payments.
Could you lose your home if you are behind on payments and your car rolls down hill into it?
Of course YOU WILL LOOSE YOUR HOUSE IF YOUR BEHIND ON PAYMENTS.
How many payments do you have to be behind to get your car repoed in GA?
no more than 2 payments
Why is it important to make payments on time?
If you fall behind on payments you may often receive late charges.
How can you keep from going to jail if you are behind on child support payments?
Catch up on your child support payments.
Can a finance company repossess your car when you lose your job?
Only if you stopped making payments and are behind on your on your payments.
What bankruptcy can you file to keep your home if you are behind in payments?
If you are behind in your payments and you declare bankruptcy usually you can remain in your home and continue payments. However the lender will most likely begin foreclosure since you can't afford it and you are at higher risk.
What are the release dates for Preachers' Daughters - 2013 Behind the Pulpit - 1.10?
Preachers' Daughters - 2013 Behind the Pulpit - 1.10 was released on: USA: May 2013
How can I lower my car insurance costs after I fell behind in my payments?
You can start making your payments on time and avoid accidents
Can westlake financial repo your car?
if you are behind on payments then yes they can
Can your mortgage company attach your savings account if you are behind on payments?
No.
How many payments behind will Volkswagen repo your car for?
two
Can I trade in my car if I am behind on payments?
You absolutely can trade in your vehicle even if you are behind on your payments. When you trade a vehicle in the dealership you are purchasing from pays off your previous loan in full, so being behind on your payments will not affect anything other than the total amount due on your car. Of course when the new dealership runs your credit report it will probably reflect that you are currently behind and will also show how many months you are behind.
Can a bank sell your vehicle the day after it is repossessed in Alabama?
Depending on how many payments your behind. If you are behind a great margin I think they would to try to make back the money lost but if you're one or two payments behind they will give you a chance to catch up and if you fail to make any payments after they contact you they will sell.
How far do you have to be behind on your payments to legally repo in Florida?
ONE day.
What is the repossession law in California?
can you get your auto reposessed if your 2 payments behind NO
In Georgia How many payments do you have to be behind before they can repossess your car?
oiuo
Are black swallowers dangerous to people?
They can be if you are behind on child support payments.
What was the term used for the British Prime Minister's agreement with Hitler?
The name of the agreement referred to in the question was the Munich Agreement. The term used to describe the policy and/or philosophy behind it was appeasement.
Does a co-signer have the right to take the car if you are behind on payments?
When you fail to make payments, they go after the co-signer. It can affect his credit. If he makes the payments he can take the car. You wouldn't want to make payments for someone else's car.
Can Ford deactivate the on board computer if you are behind on your payments?
No. They can, however, repossess your vehicle
If you are behind on your house payments and file chapter 7 bankruptcy can they take your house?
no
